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Suppose the price of aluminum rises, and as a result, a manufacturing company purchases tin to use in place of the now higher-priced aluminum. This is referred to as
Null Hypothesis
A hypothesis used in statistics that proposes no significant difference or effect, serving as the default assumption to be tested against an alternative hypothesis.
Test Statistic
A value determined from sample data, used to make decisions on a hypothesis in statistical testing.
Level Of Significance
A threshold in hypothesis testing, representing the probability of rejecting a true null hypothesis, typically denoted by alpha.
Null Hypothesis
A statement asserting there is no effect or no difference, which researchers attempt to disprove through statistical testing.
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